Altice USA, Inc. (NYSE:ATUS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Altice USA, Inc. (NYSE:ATUS) have earned an average rating of “Reduce” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $1.97.

A number of brokerages have commented on ATUS. Bank of America started coverage on shares of Altice USA in a research note on Wednesday, April 24th. They issued an “underperform” rating and a $1.50 price objective for the company. Loop Capital dropped their price target on Altice USA from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on Altice USA in a research report on Monday, July 1st. They set a “sell” rating and a $2.00 price objective on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Altice USA in a report on Thursday, April 11th. Finally, UBS Group lowered Altice USA from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.00 to $2.00 in a report on Friday, August 2nd.

Altice USA Stock Performance

ATUS stock opened at $1.65 on Friday. The company has a market cap of $758.94 million, a price-to-earnings ratio of 165.00, a P/E/G ratio of 0.66 and a beta of 1.48. The business’s 50-day moving average is $2.03 and its two-hundred day moving average is $2.23. Altice USA has a fifty-two week low of $1.55 and a fifty-two week high of $3.66.

Altice USA (NYSE:ATUS) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). Altice USA had a negative net margin of 0.62% and a negative return on equity of 1.54%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Altice USA will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Altice USA

A number of large investors have recently bought and sold shares of ATUS. Victory Capital Management Inc. increased its stake in Altice USA by 38.1% in the fourth quarter. Victory Capital Management Inc. now owns 31,185 shares of the company’s stock worth $101,000 after purchasing an additional 8,600 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in shares of Altice USA by 6.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 6,850,472 shares of the company’s stock valued at $22,264,000 after purchasing an additional 396,275 shares during the period. CastleKnight Management LP grew its holdings in shares of Altice USA by 676.6% in the fourth quarter. CastleKnight Management LP now owns 1,459,685 shares of the company’s stock worth $4,744,000 after purchasing an additional 1,271,734 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Altice USA in the 1st quarter worth about $1,914,000. Finally, Quadrature Capital Ltd bought a new stake in Altice USA during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.